Alcoa will return to profit and are still investing in preferred areas eg Russia...Cheaper energy is of primary importance and Warro is a key target for them!!!! Not so gloomy folks!!!
"The company did record some improvement sequentially and topped Wall Street expectations. "Our cash-generation initiatives, productivity improvements, and portfolio changes are working," said chief executive Klaus Kleinfeld, adding that the company's cost base has been reduced to withstand "the most serious downturn in the history of the aluminium industry".
In after-hours trading, Alcoa shares rose 7 per cent to $US10.12 after resuming trading. The shares have doubled in value in the past four months but remain off nearly 75 per cent from a year ago.
The aluminium giant, which kicks off the US earnings season, is banking on a recovery, having just completed a $US750 million ($964m) expansion of a factory in Russia." The Australian
TSV Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
